This paper uses a new data-set to examine how internal capital markets and foreign ownership affect investment. Our … data allow us to compare investment behaviour of listed subsidiaries with stand-alone firms while controlling for … investment opportunities of parent and subsidiary firms. We evaluate how the size of ownership and the geographical proximity of …

We present a dynamic agency model of investment, borrowing and payout decisions by a mature corporation operating in … managerial rents. They under-invest and smooth payout and rents. Debt is the shock-absorber for operating income and investment …

This paper models the effect of disclosure on real investment. We show that, even if the act of disclosure is costless … cutting investment. Investment depends on asset pricing variables such as investors' liquidity shocks; disclosure depends (non … optimal to induce investment, the manager may be unable to commit to it. If hard information turns out to be good, he will …

This Paper studies the financing of enterprise investment in listed Hungarian firms during the first years of … particular, we look for evidence of financial constraints that limit real investment and attempt to identify the effect of … foreign-owned firms do not suffer from limited external finance. Previous leverage can strain investment, suggesting that hard …

, the correlation between consumption and investment growth is 0.29 when households have no information about the future …

competition for matches may solve hold-up and coordination problems generated by the absence of complete contingent contracts. In … particular, this Paper shows that when matching is assortative and sellers’ investments precede market competition then … equilibria with coordination failures. Different types of inefficiency arise when sellers undertake investment before market …

We examine a Bertrand competition game between two intermediaries offering matching services between two sides of a …

complements this pattern is reinforced while under competition in substitutes the principals trade off the benefits of …